Legal Question in Credit and Debt Law in India

U/s 138 r/w S. 141 of N.I. Act, when the Accused is a Company, then all those officers of the Company who were in charge of the Affairs of the Company are liable for prosecution. So, notwithstanding the fact that Company has gone into liquidation, still you can pursue compliant u/s 138 against the then director of the Company. There is no Bar to prosecution.

One more aspect, since the Company has already gone into liquidation, it is advisable for you that lodge your claim, underlying the cheque, with the Official liquidator, so in future out of liquidation proceeds you can get your peri pesu share.

Feel free to contact should you have any questions.

Vivek N Mapara

www.vnmlaws.com